Custom indices are available for markets where Modo Energy tracks asset-specific revenues — you'll see the available regions when you start creating one.
When to use custom indices
Create a custom index when you want to:
Track only assets in a specific area or with specific characteristics
Benchmark against a peer group you define
Monitor a set of assets you're evaluating for investment
Starting a new custom index
You can start creating a custom index in two ways:
Click the + icon next to Indices & Benchmarks in the sidebar
Go to the all indices and benchmarks page and click the New button
Step 1: Choose a region
Select which market your custom index should cover. Available regions include Great Britain (GB), Texas (ERCOT), and Australia (NEM). The best benchmark depends on your use case — each region has different assets, revenue sources, and data availability.
Click Next to continue.
Step 2: Select a benchmark type
Choose the type of benchmark you want to create. The default option is Index, which calculates the median of individual asset performance. This is typically used in contracts for benchmarking route-to-market performance, estimating liquidated damages, and pricing business interruption insurance.
Click Next to continue.
Step 3: Set your benchmark criteria
This is where you define which assets are included in your custom index. You have two approaches: dynamic criteria that automatically update, or a fixed set of assets.
Dynamic asset inclusion
When the Dynamic asset inclusion toggle is on (recommended), your index automatically adds new assets that match your criteria and removes those that no longer qualify. This means your benchmark stays up to date as assets enter or leave the market without any manual maintenance.
Turn it off to permanently fix the assets used in the benchmark. Assets will not be added or removed, even if they start or stop meeting your criteria.
Choosing criteria
Click + Add criteria to select the attributes you want to filter by. Available criteria depend on the region you selected and may include:
Duration — Filter by battery storage duration
Owners — Select specific asset owners from the dropdown
Operators — Select specific operators (route-to-market providers) from the dropdown
Energy capacity — Use the slider to set a range in MWh
Rated power — Filter by asset power rating
Asset age — Filter by how long assets have been operational
Assets — Manually select specific assets to include
You can combine multiple criteria. For example, you could filter by a specific operator and set an energy capacity range to create a benchmark of mid-sized assets managed by that operator.
As you add and adjust criteria, the Assets meet criteria section at the bottom shows you which assets currently match — so you can see exactly what's going into your index before you create it.
Numerical criteria
For numerical attributes like energy capacity and rated power, a slider appears showing the full range of available values. Drag the handles to set your minimum and maximum thresholds.
Dropdown criteria
For attributes like owners and operators, a searchable dropdown lets you select one or more values from all available options in that market.
Step 4: Name and share
Give your index a name and choose who can see it:
Personal — Only you can see this index
Company — Everyone associated with your company account can see this index
Click Create new index to finish.
Finding your custom indices
Your custom indices appear in the all indices and benchmarks table. To find them quickly, filter by Created by and select your name or "My indices."
Custom indices created by teammates appear under their name in the Created by filter.